South African Council for Educators Act, 2000
R 385
Financial Services Board Act, 1990 (Act No. 97 of 1990)NoticesLevies for Financial Institutions, 201912. Levy on collective investment schemes in securities |
(1)
| (a) | The levy, in respect of collective investment schemes in securities referred to in Part IV of the Collective Investment Schemes Control Act, is a total amount of R16 633 325, for all such schemes administered by a manager registered in terms of section 42 of that Act at any time during the levy year. |
| (b) | The amount is payable in four quarterly instalments on or before 31 July, 30 September, 31 December and 31 March of the levy year. |
| (c) | The quarterly amounts are calculated on the basis of statistics as at the end of the preceding quarter and are apportioned among all managers registered at that date. |
| (2) | The levies due are calculated as follows: |
| (a) | 10% apportioned equally among all managers; |
| (b) | 60% apportioned according to the number of portfolios administered by each manager; and |
| (c) | 30% apportioned in proportion to the total assets administered by each manager. |
